Thesis (MBA)--University of Stellenbosch, 2011. / The South African clothing and textile industry has historically benefited from import substitution industrialisation which protected the industry through tariff and non-tariff barriers from foreign competition. Factors such as the impact of globalisation, our accession to the World Trade Organisation and the associated effects on trade liberalisation changed South Africa‟s trade policy to move towards export lead growth at the threshold of South Africa‟s democracy, which paved the way for increased imports from foreign countries. The opening up of the South African economy to foreign competition negatively impacted on the competitiveness of these industries. The clothing and textile industry has been plagued by various challenges, amongst others, cheap imports especially from China (often illegal), South Africa‟s accelerated tariff reduction programme and currency fluctuations (especially the appreciation of the Rand), which culminated in factory closures and huge job losses. South Africa has since 1994 developed unstructured and uncoordinated sectoral responses to these challenges in the absence of a comprehensive industrial policy. The government‟s response to deal with the challenges facing the clothing and textile industry was to re-impose protectionist measures via import quotas on certain categories of products from China. These measures were intended to protect the industry and provide it with breathing space to reposition itself and regain its competitiveness, retain existing jobs and create additional jobs. The quest to regain global competitiveness should be founded on a combination of measures (e.g. the legislative and institutional environment, infrastructure, skilled workforce, innovation and networking) designed to satisfy consumer tastes and preferences that aims to improve the potential for growth in the medium to long-term. The objective of this research report was to assess whether the introduction of import quotas on Chinese goods positively contributed to the South African clothing and textile industry in regaining a measure of competitiveness and growth. The basis of the study is informed by a series of personal interviews with the key industry stakeholders which focused on examining the state of the industry, especially the impact of import quotas of certain categories of Chinese goods. The results revealed that the impact of import quotas on Chinese goods failed to provide any significant benefits to the clothing and textile industry since: (i) although there was a reduction in imports from China into South Africa in the quota categories, importers merely sourced their products from other low cost countries (e.g. Pakistan, Vietnam, Mauritius); (ii) there was no significant increase in local output and purchases; and (iii) there was no significant reduction in the number of jobs lost and none created during this period. These results although supported by business and other academic literature are contested by both labour and government. One conclusion was that a comprehensive approach should be pursued to arrest the challenges faced by the clothing and textile industry to reposition itself within the global environment to regain its competitiveness. This requires the active participation of all industry stakeholders and the implementation of appropriate strategies and tactics which is sequenced and coordinated to enhance their collective outcomes.

A number of attempts have been made to facilitate agricultural trade liberalisation over the last decades. In spite of these efforts, trade liberalisation of agricultural and food processed goods has been modest. It is argued that this lack of trade liberalisation is explained by the existence of governments that are politically biased in the sense that they place anti-trade policies in order to favour powerful sectors in the economy. While there exists some evidence supporting this argument, it is difficult to assess how these biases influence agricultural trade patterns because existing quantitative modelling approaches do not normally consider simultaneously key aspects that characterise the food industry such as intra-industry trade and the existence of intermediaries in the supply chain with significant market power, among others. The objective of this thesis is to offer an alternative theoretical model that has the potential to accommodate these key aspects and corresponds to an international trade network model that extends the framework developed by Goyal and Joshi (2006). The model was solved by means of simulations and the results revealed that policy biased indeed can prevent trade liberalisation of agricultural and food processed goods. However, other factors that apparently have not been reported so far and that are related to the market power exercised by intermediaries were identified. They correspond to the position of a country in the trade network (i.e. a country occupying a central position in the network is less likely to support trade liberalisation independently of any policy bias), the possibility that global free trade is an unlikely outcome, and the possibility that the world is trapped in an inefficient international trade network. The results also revealed that the adoption of compensatory lump sum payments across countries (i.e. inter-node transfers) or across sectors within a country (i.e. intra-node transfers) could be used a potential tools to achieve global free trade in agriculture as they can compensate losers from trade by gainers achieving, as a consequence, Pareto improving outcomes.

Liberalisation of trade is deepening, and so have the incentive schemes put in place by a number of countries to promote it. International trade promotion agencies in developing countries are actively promoting their countries as the best, with which to trade. With international trade emerging as a favourite source of revenue and technology transfer for most countries, profound questions about the impact of trade liberalisation to economic growth are addressed in this study. The main purpose of this study is to empirically assess the relationship between trade liberalisation and economic growth in Zimbabwe using annual time series data from 1980 to 2017. Autoregressive distributed lag (ARDL) bounds testing approach to cointegration and Error Correction Mechanism (ECM) are applied in order to investigate the long run and short run impact of trade liberalisation on economic growth. The results proved the existence of a positive long-run relationship between trade liberalisation and economic growth. The study therefore concludes that policy makers and government negotiators in Zimbabwe should introduce policies that promote openness through the removal of barriers to trade and export promotion in order to promote overall growth of the economy. / Economics / M. Com (Economics)

Magister Philosophiae - MPhil

Magister Commercii - MCom / Political and economic sanctions between 1970 and 1994 isolated the inward-oriented economy of South Africa from global trends. A variety of factors, such as a challenging new global competitive environment, production overcapacity, falling protectionist tariff barriers in a period of liberalisation, world-class manufacture and globalisation, are contributing to the reform of the economy and the automotive industry. The South African automotive industry therefore faces a major reform in trade policy. The South African government introduced the Motor Industry Development Plan (MIDP) in 1995, to create the necessary levels of competitiveness, promote worldclass manufacture practices, increase levels of investments and exports that would consequently lead to the successful reconstruction and development of this sector of the South African economy. Subsequent research has shown that the successful adoption of world-class manufacture (or lean production) processes in the South African automotive industry is necessary not only for survival, but also for increased competitiveness of the industry and the improved economic performance of automotive firms. However, complicated links exist between the adoption of world-class manufacture for improved levels of operational competitiveness. for firm-level success, on the one hand, and long-term sustainability of the industry, on the other hand. Combined firm level economic success and long-term sustainability of the industry depend on factors such as international trends, connectivity to global value chains, modern technological capabilities, lean production and enterprise systems, substantial investments, increased exports, world-wide quality standards, as well as customer satisfaction, human resource development, advanced education, skills development, worker participation, government policy and institutional support. This is borne out by a recent study of the auto component sector, utilising a lean , production 'market driver' toolkit. The study found that although component manufacturers significantly improved their operational competitiveness, they have not necessarily experienced improved economic performance levels. More important is connectedness and integration into global value chains, via intermediaries, mergers and acquisitions. The changing political economy of automotive value chains is also important in shaping fum-level operational success and industry sustainability.

Money is a public good. The regulation of its creation, supply and distribution is of national and international interest. Monetary stability is an important regulatory goal conducted through an interaction of economic, political, religious factors as well as legislative action. The state plays an intermediary role, bridging domestic interests and international interests. Increasing interdependence between national economic systems and international obligations sometimes leads to the manipulation of systems as well as currency wars. Regulation is done through co-operative international action since domestic regulators are no longer sufficiently equipped to do so. Resultantly, there is an emergence of new structural paradigms to deal with it. Meanwhile, states still enjoy certain residual competences of sovereignty. Numerous legal factors act as constraints on sovereignty with far reaching implications on states’ regulatory space. In light of the divergence of regulatory objectives, there is an apparent need to balance municipal with international interests on the regulation of the monetary system. / Mercantile Law / LLM

This study was conducted with the aim of investigating the trends and determinants of South Africa’s sugar production and exports within the TFTA between 1996 and 2014. The specific objectives of the study were (1) to identify trends in South Africa’s sugar production and exports within the TFTA between 1996 and 2014; (2) to determine the drift rate in South Africa’s sugar exports within the TFTA between 1996 and 2014; (3) to investigate the correlation between South Africa’s sugar production and exports between 1996 and 2014; and (4) to determine the factors that affect production and exports in South Africa’s sugar industry in order to identify the industry’s major challenges and opportunities for sustained performance. The secondary data, obtained from the Economic Analysis and Agricultural Statistics Directorate of the Department of Agriculture, Forestry and Fisheries (DAFF), were used to meet the first three objectives of the study. The primary data, obtained by means of a survey questionnaire and interviews with key stakeholders, were used to meet the fourth objective of the study. A 7-point Likert scale was applied to indicate the degree to which each of the determining factors are perceived to affect the performance and resulting competitiveness of the sugar industry. The Johansen test and Porter’s Diamond Model were the analytical techniques used in the study. The results of the analysis of the secondary data revealed continued fluctuations in sugar production in South Africa between 1996 and 2014. On the basis of this, the researcher rejected the hypothesis that there is no trend in South Africa’s sugar production. It was therefore concluded that seasonal variations accounted for these fluctuations in the sugar industry. As determined using the Johansen test, drift rate variations came to 51%, indicating that there is potential for growth in South Africa’s sugar exports. This was confirmed by the results of the bivariate correlation between production and exports which clearly indicated a positive relationship between the two and prompted the researcher to accept the hypothesis that there is a positive relationship between the production and export of sugar. In determining the factors that influence South Africa’s sugar production and exports, a number of obstacles to competitiveness success were identified. With regard to sugar production, applying Porter’s Diamond model revealed that the major constraints experienced by respondents in the study area were the availability of skilled labour; cost of doing business; level of infrastructure development; cost of infrastructure; water availability; climatic conditions; soil quality; rainfall patterns; availability of financial services; access to credit; crime; and HIV/AIDS. In terms of exports, tariffs were found to be the major constraint along with certain of the abovementioned factors. While the majority of respondents view macroeconomic policy and trade policy as export constraints, South Africa’s labour, B-BBEE and competition policies are seen as neither constraining nor supportive. Product design; packaging; labelling and pricing; as well as the manager’s willingness to export; level of education and training; length of time in the business; experience; and language had a positive effect on competitive success. / Agriculture, Animal Health and Human Ecology / M. Sc. (Agriculture)

Money is a public good. The regulation of its creation, supply and distribution is of national and international interest. Monetary stability is an important regulatory goal conducted through an interaction of economic, political, religious factors as well as legislative action. The state plays an intermediary role, bridging domestic interests and international interests. Increasing interdependence between national economic systems and international obligations sometimes leads to the manipulation of systems as well as currency wars. Regulation is done through co-operative international action since domestic regulators are no longer sufficiently equipped to do so. Resultantly, there is an emergence of new structural paradigms to deal with it. Meanwhile, states still enjoy certain residual competences of sovereignty. Numerous legal factors act as constraints on sovereignty with far reaching implications on states’ regulatory space. In light of the divergence of regulatory objectives, there is an apparent need to balance municipal with international interests on the regulation of the monetary system. / Mercantile Law / LL. M.

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